Redwire (NYSE:RDW) Shares Gap Up – Should You Buy?

Shares of Redwire Co. (NYSE:RDW) gapped up before the market opened on Thursday . The stock had previously closed at $24.99, but opened at $26.25. Redwire shares last traded at $25.39, with a volume of 611,788 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Redwire in a report on Friday, January 24th. They set an “overweight” rating and a $28.00 target price on the stock. Roth Mkm boosted their target price on Redwire from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 8th. B. Riley raised Redwire from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $9.50 to $27.00 in a report on Monday, January 27th. Finally, HC Wainwright boosted their price target on Redwire from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $18.04.

Redwire Trading Down 8.0 %

The business has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $11.48.

Insider Activity

In other news, major shareholder Park Lp Genesis II sold 6,683 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $22.56, for a total transaction of $150,768.48. Following the completion of the transaction, the insider now owns 3,704,664 shares of the company’s stock, valued at approximately $83,577,219.84. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 674,339 shares of company stock worth $13,439,120. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Redwire

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Redwire by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,310,660 shares of the company’s stock worth $21,573,000 after buying an additional 101,620 shares in the last quarter. Barclays PLC raised its holdings in shares of Redwire by 6.5% during the 4th quarter. Barclays PLC now owns 1,258,366 shares of the company’s stock worth $20,713,000 after buying an additional 77,228 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Redwire by 6.3% during the 3rd quarter. Geode Capital Management LLC now owns 523,743 shares of the company’s stock worth $3,599,000 after buying an additional 30,963 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Redwire by 165.7% during the 4th quarter. Federated Hermes Inc. now owns 498,275 shares of the company’s stock worth $8,202,000 after buying an additional 310,769 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Redwire by 8.1% during the 3rd quarter. State Street Corp now owns 473,295 shares of the company’s stock worth $3,252,000 after buying an additional 35,519 shares in the last quarter. Institutional investors and hedge funds own 8.10% of the company’s stock.

About Redwire

Redwire Corporation provides critical space solutions and space infrastructure for government and commercial customers in the United States, Europe, and internationally. The company provides avionics and sensors including star trackers, sun sensors, critical for navigation, and control of spacecraft; camera systems; solar array solutions for spacecraft spanning the spectrum of size, power needs, and orbital location; and strain composite booms, coilable booms, truss structures, telescope baffles, and deployable booms to position sensors or solar arrays away from the spacecraft.